‘Disinflation to Extend into September as Harvest Season Boosts Food Supply’

Esther Oluku 

Nigeria’s disinflationary trend is expected to continue into September, supported by improved food supply associated with the harvest season, according to Anchoria’s macro-economic update for the month of August 2026 .

The firm said increased availability of staple crops across major producing regions would likely moderate prices of cereals, tubers, vegetables and other agricultural commodities that have contributed significantly to food inflation.

“We expect the disinflation trend to remain broadly intact in September, supported by improvement in food supply associated with the harvest period,” part of the report read. It noted that the combination of exchange rate stability and improved liquidity conditions should help contain cost pressures facing manufacturers and businesses that depend heavily on imported inputs. However, it warned that external risks could slow the pace of disinflation, particularly amid evolving geopolitical developments in the Middle East. “Sustained escalations disrupting global energy markets would mean elevated oil prices, potentially feeding through to domestic fuel and transportation costs,” the report stated.

According to the firm, a prolonged disruption to global energy markets could temporarily reverse recent gains in some consumer categories and offset some of the benefits arising from improved food supply and exchange rate stability.